Business
New distribution agreements
New distribution agreements.
About this update from Venture Life Group Plc
[{"type":"text","content":"\n \nRNS Number : 3099S Venture Life Group PLC 23 September 2014 \n\n \nVenture Life Group plc\n(\"Venture Life\" or \"the Group\")\nLong-term distribution agreements signed with four new partners\n \nBracknell, UK - 23 September 2014: Venture Life Group plc (AIM: VLG), the international consumer self-care group addressing the needs of the ageing population, announces that it has signed long-term product distribution agreements with four new partners. The agreements give these distributors exclusive rights to sell certain Venture Life products across a total of nine European territories, including Germany. Based on the contractual minimum purchase obligations of the partners, these four agreements combined should deliver minimum annual revenues of €0.24 million in year 1, rising to €0.59 million in year 5, and totalling €5.1 million over the ten year term of the agreements.\n \nThe agreements are with the following companies:\n \n\n\n\n\nDistributor \n\n\nVenture Life product\n\n\nTerritories\n\n\nExpected first revenues for VLG\n\n\n\n\nValeant \n\n\nProcto-eze cream\n\n\nSix, including Germany\n\n\nH1 2015\n\n\n\n\nLyfis\n\n\nProcto-eze cream and cleanser\n\n\nIceland\n\n\nH1 2015\n\n\n\n\nSymphar\n\n\nProcto-eze cream\n\n\nPoland\n\n\nH1 2015\n\n\n\n\nDeltapharma\n\n\nOriginal Bioscalin shampoo and capsules\n\n\nAlbania\n\n\nH1 2015\n\n\n\n\n \nIn addition to these agreements, the Group has already signed a further seven product partnering deals during 2014, as well as four extension deals signed with existing partners for additional Venture Life products. The Group now has distribution agreements covering all 14 of its current branded products in a combined 42 territories worldwide, and its unbranded products manufactured by Biokosmes are sold in over 10 countries.\nJerry Randall, Chief Executive Officer of Venture Life, commented:\n\"We are delighted to broaden further our partner base in Europe, and to see further validation of our model and products through a long term agreement with Valeant, a global top 50 pharmaceutical company. We are delivering increasing benefits from the merger with Biokosmes and are seeing gathering momentum in our branded portfolio as we broaden the distribution base of our branded products. We are particularly pleased with our first distribution de...